FINANCE

TJX reaches settlement in class-action suit over data breach

BY CSA STAFF

Framingham, Mass. TJX Cos. on Wednesday said it has reached a settlement with several financial institutions tied to the massive data breach of customer information in 2005 and 2006.

TJX said that it paid $525,000 under the settlement, primarily reimbursing the banks for some of their expenses that stemmed from litigation tied to the incident.

The four remaining financial institutions that sought to join as plaintiffs in a class-action suit — AmeriFirst Bank, HarborOne Credit Union, SELCO Community Credit Union and Trustco bank — agreed to drop all their claims against TJX.

TJX denied any wrongdoing and said the settlement payment was covered in a reserve taken earlier.

The theft of information from Massachusetts-based TJX Cos. involved at least 45 million card numbers of customers at its stores, one of the largest breaches on record.

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JCPenney launches iPhone app

BY CSA STAFF

PLANO, Texas JCPenney has launched a new app for Apple’s iPhone called “JCPenney Weekly Deals” that allows customers to browse sale items, create a shopping list, check for the latest deals and find the nearest store.

“With shoppers increasingly doing research before they step into a store, our new iPhone app is the latest way we are providing our customers an easier, more engaging and integrated shopping experience,” said Mike Boylson, chief marketing officer for JCPenney. “Furthermore, with more than 13 million iPhone users in the U.S. – along with 12 million iPod Touch users who can also download apps – the launch of an iPhone app allows us to share our style, quality and affordable prices each week with a rapidly growing base of consumers.”

According to the company, the launch of the JCPenney Weekly Deals iPhone app builds on JCPenney’s “Know Before You Go” initiative, developed based on extensive customer research which found that a large number of customers visiting jcp.com were online for a purpose other than shopping.

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Gander Mountain launches seminar series for women

BY CSA STAFF

ST. PAUL, Minn. Gander Mountain announced that it will launch a fall seminar series for women at all 116 retail locations.

The “We Live Outdoors Women’s Seminar Series” will take place at 7:00pm on Monday nights from Sept. 14 through Oct. 19. The series also includes a Women’s Shop Weekend on Oct. 17 and 18 to introduce new fall products. All seminars are free and open to women of all ages.

 

“We wanted to be able to give women a chance to become more familiar with the options available for outdoor pastimes. The seminar series, held in our store lodges, is a unique opportunity because they can test the merchandise and ask questions to allow them to better enjoy the outdoors,” said Casey Ramm, SVP merchandising for Gander Mountain.

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